ABM Industries Sees Unusually-High Trading Volume Following Strong Earnings (ABM)
Shares of ABM Industries (NYSE:ABM) saw unusually-high trading volume on Wednesday after the company announced better than expected quarterly earnings, Stock Ratings Network reports. Approximately 348,339 shares changed hands during trading, an increase of 82% from the previous session’s volume of 191,205 shares.The stock last traded at $26.74 and had previously closed at $26.75.
The company reported $0.47 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.46 by $0.01. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter last year, the company posted $0.41 earnings per share.
The company also recently announced a quarterly dividend, which is scheduled for Monday, November 3rd. Shareholders of record on Thursday, October 2nd will be paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 2.32%.
ABM has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of ABM Industries in a research note on Wednesday, August 27th. They now have a $28.00 price target on the stock. Analysts at Imperial Capital cut their price target on shares of ABM Industries from $29.50 to $29.00 in a research note on Thursday, June 5th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. ABM Industries currently has an average rating of “Buy” and a consensus target price of $29.25.
The stock’s 50-day moving average is $25.61 and its 200-day moving average is $26.94. The company has a market cap of $1.488 billion and a P/E ratio of 22.14.
ABM Industries Incorporated (NYSE:ABM) is a provider of integrated facility solutions.
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